Nifty Positional

Nifty Positional 

POSSIBILITY NO.1.

Market may convert the entire 5th (Reversal  Wolfe Wave) wave move from 6825to 7949 as. 

Wave A.The fall from 7252.40 to 6825.80  is Wave B. Now Wave C is running.

In this scenario, we can expect move towards 7667-7711 spot levels.

POSSIBILITY NO.2.

5 Waves finished at 7679-7711.  If this up move is a motive for the entire fall from 8336-6825,(Wave C1) then, it may break 7180  and then start its downward journey. This type of confusing corrections always occur in Indian markets.

CONCLUSION

If faces resistance in the area 7679-7711 spot , then initiate shorts . If sustain above that level for a sufficient time exit from shorts. At the present juncture, it is highly difficult to tell where the market is heading, if hold abv 7711, then can lead towards 7949.